Main Street Capital Corp. (MAIN) Downgraded by Zacks Investment Research to “Hold”

Main Street Capital Corp. (NYSE:MAIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “

A number of other brokerages also recently commented on MAIN. National Securities reiterated a “neutral” rating and set a $33.00 target price on shares of Main Street Capital Corp. in a research note on Wednesday, August 10th. Wunderlich boosted their target price on shares of Main Street Capital Corp. from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. FBR & Co boosted their target price on shares of Main Street Capital Corp. from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. RBC Capital Markets reiterated an “outperform” rating and set a $35.00 target price (up previously from $32.00) on shares of Main Street Capital Corp. in a research note on Saturday, August 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Main Street Capital Corp. from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.29.

Main Street Capital Corp. (NYSE:MAIN) opened at 36.10 on Tuesday. The firm’s 50 day moving average price is $34.40 and its 200-day moving average price is $33.53. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 18.78 and a beta of 1.04. Main Street Capital Corp. has a 1-year low of $24.21 and a 1-year high of $36.95.

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.22 annualized dividend and a yield of 6.15%. Main Street Capital Corp.’s dividend payout ratio is presently 116.84%.

A number of institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP increased its position in Main Street Capital Corp. by 111.8% in the second quarter. WFG Advisors LP now owns 3,600 shares of the company’s stock valued at $118,000 after buying an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. increased its position in Main Street Capital Corp. by 14.1% in the second quarter. JPMorgan Chase & Co. now owns 3,912 shares of the company’s stock valued at $129,000 after buying an additional 482 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Main Street Capital Corp. during the third quarter valued at about $134,000. Capital Investment Advisors LLC increased its position in Main Street Capital Corp. by 4.0% in the second quarter. Capital Investment Advisors LLC now owns 7,830 shares of the company’s stock valued at $257,000 after buying an additional 300 shares in the last quarter. Finally, Callahan Advisors LLC increased its position in Main Street Capital Corp. by 1.6% in the second quarter. Callahan Advisors LLC now owns 8,362 shares of the company’s stock valued at $275,000 after buying an additional 133 shares in the last quarter. Institutional investors own 27.14% of the company’s stock.

Main Street Capital Corp. Company Profile

Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors.